The entire banking system is corrupt and must be reformed

Editor, In light of the recent credit crunch it is my firmly held belief that the governments of the world should revoke the licenses of commercial banks and in effect raze them to the ground.

Editor,
 
In light of the recent credit crunch it is my firmly held belief that the governments of the world should revoke the licenses of commercial banks and in effect raze them to the ground.

This theory is underpinned by the fact that the commercial banks have destroyed the lives and livelihoods of so many people in addition to the economies of so many countries.

Each country should simply have a national bank run purely for national interest given that the provision of money should merely be a means of exchange for goods and services which add real value to any economy.

In effect simply having a national bank would mean acting in the public interest and not for profit resulting in a more efficient market economy in addition to a more fair and just society.

ryanpadraigkelly@hotmail.co.uk

 

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